eSpeed Hits the Hotspot
TRADING TECHNOLOGY
Hotspot, an online foreign exchange trading system, which for two years has been operating on an unconventional model for the market, now has company. eSpeed, the electronic trading systems subsidiary of Cantor Fitzgerald and a giant in the fixed-income world, launched its FX trading service late last year.
Like their ECN cousins in the equities space, neither Hotspot nor eSpeed discloses the names of trading parties at any point during the trade lifecycle. This is a radical departure from the
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